SolarEdge Technologies (NASDAQ:SEDG) Trading 6.5% Higher – Here’s What Happened

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) shot up 6.5% during trading on Tuesday . The stock traded as high as $55.96 and last traded at $55.5060. Approximately 259,713 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 3,508,456 shares. The stock had previously closed at $52.13.

Analysts Set New Price Targets

Several research firms recently weighed in on SEDG. Royal Bank Of Canada cut their target price on shares of SolarEdge Technologies from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. UBS Group increased their price objective on shares of SolarEdge Technologies from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group upgraded SolarEdge Technologies from an “underperform” rating to a “hold” rating and raised their price objective for the company from $30.00 to $49.00 in a research report on Friday, March 20th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $31.00 target price (down from $36.00) on shares of SolarEdge Technologies in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $38.69.

SolarEdge Technologies Trading Down 1.7%

The company has a quick ratio of 1.36, a current ratio of 2.02 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average is $57.68 and its 200-day moving average is $45.34. The company has a market cap of $3.32 billion, a PE ratio of -8.90 and a beta of 1.45.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.20). SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The business had revenue of $309.90 million during the quarter, compared to analysts’ expectations of $305.49 million. During the same period in the previous year, the business earned ($1.14) earnings per share. The business’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -1.1 EPS for the current year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery sold 2,566 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $38.76, for a total value of $99,458.16. Following the completion of the transaction, the chairman owned 295,379 shares in the company, valued at approximately $11,448,890.04. The trade was a 0.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently bought and sold shares of the stock. Saranac Partners Ltd bought a new position in SolarEdge Technologies during the third quarter valued at $28,000. State of Wyoming bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $27,000. Rakuten Securities Inc. lifted its holdings in shares of SolarEdge Technologies by 82.1% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 432 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of SolarEdge Technologies during the 4th quarter worth about $31,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of SolarEdge Technologies during the 4th quarter worth about $36,000. 95.10% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.